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Automatic Bus Door System Market Size
- Report ID: GMI7079
- Published Date: Oct 2023
- Report Format: PDF
Automatic Bus Door System Market Size
Automatic Bus Door System Market size was valued at USD 536 million in 2022 and is estimated to register a CAGR of 11.9% between 2023 and 2032. The use of public transportation is concentrated in large cities, particularly in the metropolitan areas. Globally, governments are investing in public transportation.
For example, the U.S. government has significantly increased its investments in public transportation through various measures. In addition to regular annual financial assistance, lawmakers allocated nearly USD 70 billion in one-time supplemental funding in 2020 and 2021 with a third already spent. The Infrastructure Investment and Jobs Act (IIJA) further boosted support, providing USD 18 billion annually for public transit programs from 2022 to 2026 (a 42% increase from 2016 - 2021). Additionally, the IIJA allocated USD 13 billion for surface transportation programs, potentially benefiting mass transit.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Automatic Bus Door System Market Size in 2022: | USD 536 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 11.9% |
| 2032 Value Projection: | USD 1.58 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 751 |
| Segments covered: | Bus Type, Operation, Propulsion Type, Door Type, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Increasing population in the Asia-Pacific region has led to greater urbanization and congestion, driving up the demand for efficient public transportation solutions. According to the National Urban Transport Policy report, India's urban population is on a rapid growth trajectory, and is projected to reach 820 million by 2051. To address this trend, there's a growing emphasis on improving infrastructure and services to alleviate congestion and provide sustainable mobility options for the expanding urban population.
The high initial cost is a significant challenge in the automatic bus door system market. Implementing advanced door systems requires substantial upfront investments in technology, infrastructure, and installation. This cost can deter transit agencies and bus operators from adopting these systems, especially in budget-constrained environments. However, it is important to note that despite the initial expense, automatic bus door systems often have long-term benefits, such as improved safety, efficiency & passenger experience, which can justify the investment over time.
Frequently Asked Questions (FAQ) :
Automatic Bus Door System Market Scope
